【摘要】：中國(guó)政通人和，社會(huì)安定，是世界上最安全的旅游目的地之一；中國(guó)經(jīng)濟(jì)發(fā)展迅速，人們收入不斷提高，為休閑消費(fèi)奠定了堅(jiān)實(shí)的基礎(chǔ)，現(xiàn)行休假制度的完善也對(duì)國(guó)內(nèi)旅游消費(fèi)市場(chǎng)的發(fā)展起著極大存進(jìn)作用。同時(shí)，我國(guó)房地產(chǎn)市場(chǎng)發(fā)展迅猛，給我國(guó)經(jīng)濟(jì)注入了極大的活力，在此基礎(chǔ)之上旅游房地產(chǎn)業(yè)也正處于一種上升的態(tài)勢(shì)。青島作為中國(guó)旅游的主要城市之一，旅游潛力十分巨大，奧運(yùn)會(huì)后青島國(guó)際知名度更是有所上升，其旅游業(yè)的發(fā)展也是處于繁盛階段。正是在這樣一種背景下，本文選取處于青島開(kāi)發(fā)區(qū)的FH島旅游地產(chǎn)項(xiàng)目作為研究對(duì)象，對(duì)其建設(shè)開(kāi)發(fā)的投資進(jìn)行分析與評(píng)價(jià)。 FH島項(xiàng)目位于黃島開(kāi)發(fā)區(qū)，在近幾年的發(fā)展中，黃島開(kāi)發(fā)區(qū)也成為青島的重點(diǎn)建設(shè)地區(qū)，其自然環(huán)境優(yōu)美，是適宜作為旅游項(xiàng)目開(kāi)發(fā)的地域。同時(shí)筆者作為項(xiàng)目參與人對(duì)項(xiàng)目情況了解較為詳細(xì)，具備研究分析的良好基礎(chǔ)。 文章第一章對(duì)旅游房地產(chǎn)投資項(xiàng)目的財(cái)務(wù)評(píng)價(jià)進(jìn)行了理論闡述，主要從旅游房地產(chǎn)內(nèi)涵以及財(cái)務(wù)評(píng)價(jià)兩個(gè)方面展開(kāi)論述。重點(diǎn)介紹了財(cái)務(wù)評(píng)價(jià)的內(nèi)涵、作用、指標(biāo)體系以及綜合分析方法，同時(shí)對(duì)不確定性分析進(jìn)行了相應(yīng)論述。第二章對(duì)FH島項(xiàng)目進(jìn)行了介紹，包括其背景、建設(shè)條件、項(xiàng)目方案以及規(guī)劃和市場(chǎng)分析，為后面的財(cái)務(wù)評(píng)價(jià)奠定基礎(chǔ)。第三章是介紹項(xiàng)目的資金籌措和投資估算，重點(diǎn)講述了項(xiàng)目投資的方向，以及資金運(yùn)用的具體方案，包括建設(shè)五星級(jí)溫泉主體度假酒店、企業(yè)會(huì)所、漁人碼頭、全天候游泳池等。論文的重點(diǎn)在于第四章，對(duì)FH島進(jìn)行了財(cái)務(wù)評(píng)價(jià)的實(shí)證分析，包括財(cái)務(wù)指標(biāo)分析、盈利能力分析和不確定性分析。首先對(duì)項(xiàng)目的基本財(cái)務(wù)情況進(jìn)行了分析，然后利用靜態(tài)盈利能力分析、動(dòng)態(tài)盈利能力分析對(duì)項(xiàng)目的盈利能力進(jìn)行了詳盡的分析，最后通過(guò)盈虧平衡分析和敏感性分析對(duì)項(xiàng)目進(jìn)行了不確定性分析。最后論文對(duì)項(xiàng)目財(cái)務(wù)評(píng)價(jià)進(jìn)行了總結(jié)，并針對(duì)其中的問(wèn)題提出了建議和意見(jiàn)。 本文對(duì)FH島項(xiàng)目進(jìn)行財(cái)務(wù)評(píng)價(jià)的目的，不僅僅是從財(cái)務(wù)的角度分析本次項(xiàng)目的投資可行性以及風(fēng)險(xiǎn)，還希望通過(guò)對(duì)此項(xiàng)目的分析能夠得出對(duì)旅游房地產(chǎn)項(xiàng)目進(jìn)行投資的建議，使以后類似項(xiàng)目的投資能夠減少風(fēng)險(xiǎn)。
[Abstract]:China is one of the safest tourist destinations in the world. The rapid development of Chinese economy and the rising of people's income have laid a solid foundation for leisure consumption. The perfection of the current vacation system also plays a great role in the development of domestic tourism consumption market. At the same time, the rapid development of our real estate market has injected great vitality into our economy. On this basis, the tourism real estate industry is also in a rising trend. Qingdao, as one of the main tourist cities in China, has a great potential for tourism. After the Olympic Games, Qingdao's international popularity has increased, and the development of its tourism industry is also in a prosperous stage. Under such a background, this paper selects the FH Island tourism real estate project in Qingdao Development Zone as the research object, and analyzes and evaluates the investment in its construction and development. FH Island Project is located in Huangdao Development Zone. In recent years, Huangdao Development Zone has become the key construction area of Qingdao, and its natural environment is beautiful, which is suitable for development of tourism projects. At the same time, as a project participant, the author has a detailed understanding of the project and has a good foundation for research and analysis. The first chapter expounds the financial evaluation of tourism real estate investment projects, mainly from two aspects: the connotation of tourism real estate and the financial evaluation. This paper mainly introduces the connotation, function, index system and comprehensive analysis method of financial evaluation, and discusses the uncertainty analysis. The second chapter introduces the FH Island project, including its background, construction conditions, project plan, planning and market analysis, which lays the foundation for the financial evaluation. The third chapter is to introduce the financing and investment estimation of the project, focusing on the direction of the project investment, as well as the specific plans for the use of the funds, including the construction of a five-star hot spring main resort, corporate clubs, fishermen's wharf, An all-weather swimming pool, etc. The emphasis of this paper is in Chapter 4. The empirical analysis of the financial evaluation of FH Island is carried out, including the analysis of financial indicators, the analysis of profitability and the analysis of uncertainty. Firstly, the basic financial situation of the project is analyzed, and then the profitability of the project is analyzed in detail by using the static profitability analysis and the dynamic profitability analysis. Finally, the uncertainty of the project is analyzed through break-even analysis and sensitivity analysis. Finally, the paper summarizes the financial evaluation of the project, and puts forward some suggestions and suggestions. The purpose of the financial evaluation of FH Island project is not only to analyze the feasibility and risk of the project from the financial point of view, but also to get the suggestion of investment in the tourism real estate project through the analysis of this project. So that investment in similar projects in the future can reduce risk.
【學(xué)位授予單位】：中國(guó)海洋大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F293.33;F592

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